In a particular department, 8,200 units were started and all but 800 were completed at the end of the period. These 800 were 7
1 answer:
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Answer:
As the price level rises, firms expand their production because they can sell their output for more money.
Explanation:
As the price level rises, supply increases as firms expand production to increase profits. And as price level falls, supply falls as firm reduce production. For this reason the short-run aggregate supply curve slopes upward.
Please find attached a graph showing the short-run aggregate supply curve
